overland park short sale: Overland Park Short Sales: Will I Owe Income Tax After A Short Sale? - 01/05/11 09:31 AM

Overland Park KS – This is one of the first questions potential short sale sellers ask us. “I heard of something called “forgiveness of debt income and that it is taxable. How does that work?” they ask.
The following article is my personal opinion only. I recommend that you consult with a competent legal or tax professional before moving forward with a short sale.
In most cases the answer is that a short sale will usually not cause you to owe income tax.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
It used … (1 comments)

overland park short sale: Overland Park Short Sales: Can I buy again right after a Short Sale? - 12/15/10 03:50 AM
Yes, you can Short Sale and buy another home.
 
 
Overland Park KS – We get this question a lot from people. “I am upside down and need to move. I would like to buy another home. Can I do that?” they ask us. Today they can.
FHA (the Federal Housing Administration) has a new program that enables you to short sale your existing home and buy a new home at today’s reduced prices.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
The home you purchase would have to meet FHA’s standard lending … (1 comments)

overland park short sale: Overland Park Short Sales: Saint or Sinner? - 12/14/10 02:42 PM
Typical Abandoned Real Estate
Overland Park KS– The New York Time had an interesting article about one man’s mission in the fight to stop foreclosure. According to the article, Mark Guerette, attempted to make use of all the empty, abandoned houses he saw.
I get frustrated when I see homes sitting empty for months and months.
“Those homes should be put to good use!” I thought to myself. It bugged me that homes would sit empty for months and even years at a time. The lawn would become overgrown. A window might leak. Or, vandals would break the windows. Rain … (0 comments)

overland park short sale: Overland Park Short Sales: Getting divorced, neither can afford, what to do? - 12/10/10 09:03 AM

Overland Park KS - In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale. Which means that you are probably upside down on the home.
You have three options.
Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.
Option #2: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.
Issue: Can I get a Future Fannie Mae Loan?
Foreclosure: The current Fannie … (0 comments)

overland park short sale: Overland Park Short Sales: Attn: Bankers. Stop harassing Americans for money they don't have - 12/09/10 07:45 AM


Overland Park KS - Maybe this is a pet peeve of mine. Or maybe it just seems ridiculous that someone would call a debtor over and over again asking to be paid, when they have already been told the debtor doesn't have the money to pay them.
Or maybe it is the fact that I see countless examples of debt collectors breaking the Fair Debt Collection Practices Act.
But, no one seems to care that they are breaking the law.
The Fair Debt Collection Practices Act forbids collectors from threatening to sue you, but then not following thru and … (0 comments)

overland park short sale: Overland Park Short Sales: The Banker's Bill of Rights - 12/08/10 08:36 AM
Overland Park KS - If homeowner's have a bill of rights, then bankers must have one as well. We decided to put together the Banker's Bill of Rights. That way they wouldn't feel left out.
Let me know if we should put this together and petition congress to add it to the constitution.
 

 
The Banker's Bill of Rights.
1. All Bankers have the Right to make any mistake they want and still get bailed out by the American Taxpayer.
They can fiddle around with complex derivatives with no risk to themselves or the bank they run. When they … (0 comments)

 
Ron Mowery, Overland Park Realtor (The Mowery Group powered by eXp Realty) Rainmaker large

Ron Mowery

Overland Park Realtor

Overland Park, KS

More about me…

The Mowery Group powered by eXp Realty

Address: 11005 Metcalf Avenue, Overland Park, KS, 66221

Office: (913) 825-4025

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